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Will the real leader please stand up?

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Why does the business community shoulder so much of the heavy lifting in this community? I was in the business community meeting about bringing AngelouEconomics to town to do the Operation 60thirtyfive study. The idea was to get a blueprint of what we want to be when we grow up and identify specific industry types… Continue Reading Will the real leader please stand up?

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Deal — or no deal? USOC — or USnoC? City Council made a deal to keep Their Olympian Majesties in Colorado Springs — and now they have to do some quick repair work to keep everything from falling apart. Unpleasant Reality No. 1: The U.S. Olympic Committee’s first priority is not a new office building… Continue Reading My humble suggestions for how council can salvage USOC deal

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G.E. Johnson: USOC work will continue

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The general contractor for the U.S. Olympic Committee headquarters at 27 S. Tejon St. said today that work on the building will continue – at least for now. Jim Johnson, president of G.E. Johnson Construction Co., said that he met with LandCo President Ray Marshall and United Western Bank representatives today to discuss the project.… Continue Reading G.E. Johnson: USOC work will continue

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LandCo sues city, USOC

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FOX 21 News is reporting that LandCo, the company overseeing construction of the U.S. Olympic Committee building, has filed suit against the City of Colorado Springs and the USOC, saying the two have failed to keep promises of the development deal. Click here to read the story.

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“The time has come, the walrus said, to talk of many things …” Like some sadly dysfunctional family, the city, the United States Olympic Committee and LandCo are still maintaining appearances, publicly pretending that all is well, while their world collapses. Earlier this week, the Business Journal published a comprehensive account online about the financial… Continue Reading Time to save USOC deal is now

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Foreclosure proceedings against 110 acres of land in northern El Paso County managed by the developer chosen by the city to oversee the U.S. Olympic Committee headquarters/Olympic Training Center project appear to be just the tip of the legal iceberg bearing down on Ray Marshall and LandCo. While Marshall’s attorneys, Greenberg Traurig, claimed that he… Continue Reading Marshall, LandCo facing landslide of legal problems

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USOC cuts budget, 54 jobs

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The United States Olympic Committee has begun reducing its 2009 operating budget by $7.1 million, which will mean the elimination of 54 jobs. Officials say the budget reduction – from $142.6 million to $135.5 million – is necessary because of the economic downturn. The reductions represent more than 10 percent budget that is not allocated… Continue Reading USOC cuts budget, 54 jobs

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Mayor panhandling for USOC cash

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Since the end of January, Mayor Lionel Rivera has been attempting to raise $1.5 million from wealthy, civic-minded individuals to prop up the troubled deal between the U.S. Olympic Committee, LandCo Equity Partners and the City of Colorado Springs. As the Business Journal reported today, the USOC deal is stalled because of LandCo’s apparent inability… Continue Reading Mayor panhandling for USOC cash

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In a letter dated March 2 to Springs Mayor Lionel Rivera, USA Boxing CEO Jim Millman asked the city to provide a $3 million line of credit or unsecured loan that would be payed back over the next 25 years.Millman said that the organization has been approached by an undisclosed city about moving its national… Continue Reading USA Boxing demands $3 million purse

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Deal or no deal?

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City appears to be in no rush to issue COPs to pay for USOC headquarters project The City of Colorado Springs has yet to market the debt instruments that will pay for its share of the cost of building new facilities for the U.S. Olympic Committee and the Olympic Training Center. The city’s commitment, estimated… Continue Reading Deal or no deal?

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